Hi guys,
These are the salient factors for AZRB
1) A DEFENSIVE HIGH MARGIN OF SAFETY STOCK
At 36.5 sen with NTA at 89 sen AZRB is selling at almost 60% discount to NTA. This is the margin of safety Ben Graham required at 30%
2) AZRB AT 36.5 SEN IS SELLING AT ALL TIME LOW COMPARED TO ITS HEY DAYS OF OVER RM2.60 BEFORE SPLIT
This is the time to buy low. Buy low is the most important criteria to sell high later (As opposed to chase high then sell low)
3) AZRB IS A TOP CLASS A BUMI CONTRACTOR. IT WINS CONTRACTS ON ITS OWN MERIT
IT HAS SECURED MANY CONSTRUCTION PROJECTS
4) AZRB PAYS GOOD DIVIDENDS
See
Let's calculate for year 2018
It paid a One sen dividend
It gave One Bonus share for 8 shares held which is 1/8 x 36.5 = equivalent to 4.56 sen
So total yield is 4.56 & One sen = 5.56 sen
That is a very nice 15.2% yield
(NOTE: AT 15.2% YIELD AZRB OFFERS ONE OF THE HIGHEST DIVIDEND YIELD IN KLSE)
This shows that Company is sanguine about its future as dividend cannot lie
5) THE MANAGEMENT OF AZRB IS FAIR AND TRANSPARENT
To benefit from the Bonus Issue & Dividend AZRB DIRECTORS USED THEIR OWN MONIES TO BUY SHARES FROM OPEN MARKET TO QUALIFY FOR THEM JUST LIKE ALL SHAREHOLDERS (THERE IS NO SPECIAL FAVOURS LIKE JAKS DIRECTORS WHICH REWARD THEMSELVES WITH LOTS OF "FREE SHARES"
See
NOTE: DIRECTORS AND INSIDERS BUYING SHOWED CONFIDENCE (AND THEIR COST
OF PURCHASE BEFORE BONUS RANGES FROM 50 SEN TO OVER RM1.00)
So at 36.5 Sen we are getting in far below Directors' cost
6) AZRB HAS LAND ASSETS STILL AT OLD BOOK VALUE AT WONDERFUL PRICES
See (refer to AR and scroll down to Properties owned by AZRB)
Let;s take a look at 2 pieces
1) At Property No. 6 GM 1754 Lot 167 Mukim Sabai Daerah Bentong Pahang Darul Makmur Date of purchase 8-Oct-10
Vacant land Freehold 4.578 ha Price: RM960,000
AZRB has a 4.578 hectare of FREEHOLD LAND IN BENTONG with a Book Value of Rm960,000
One hectare = 2.471 acre
So 4.578 hectare x 2.471 = 11.312 Acres
So 11.312 Acres of Freehold Lands valued at Rm960,000
How much per acre
Rm960,000 divides by 11.312 = Rm84,865 per acre
How much per sq ft? Divides 84,865 by 43560 = Rm1.94 Psf
Whoa! AZRB's Freehold land in Bentong has a Book Value of Rm1.94 psf?
This is less than the price of a mosaic tile going at Rm2.00 to Rm3.00 psf
See this
Lot 8316 PT18854 - PT19458 Mukim Bukit Payung Daerah Marang Terengganu Darul Iman
Land held for Development Leasehold expiring in year 2115 66.96 acres Rm7,500,000
This is a leasehold development land with lease until year 2115
66.96 acres priced at Rm7.5 millions
To convert to price per acre Rm7,500,000 divides by 66.96 = Rm112,007
To further convert to Per Sq Ft
Rm112,007 divides by 43,560 = Rm2.57
Wow. At Rm2.57 psf this is even cheaper than Naim's land in Sarawak at Rm4 psf
NOW IF ECRL (East Coast Railway Line) is restored then AZRB should reap
a windfall like Pan Borneo Highway for Naim. If not still Ok
Those lands in Bentong are suitable to plant "Mau Sang Wang Duria" while Maran has a population of over 100,000 people. So just build affordable houses and they should sell well
7) TOP 30 SHAREHOLDERS OF AZRB ARE LOCAL FUNDS, FOREIGN FUNDS & BANKS & UNIT TRUSTS & INSURANCE COMPANY
LIST OF 30 LARGEST SHAREHOLDERS AS PER RECORD OF DEPOSITORS
Zaki Holdings (M) Sdn Bhd
AMSEC Nominees (Tempatan) Sdn Bhd - Pledged Securities Account - AmBank (M) Berhad for Zaki Holdings (M) Sdn.bhd.
Zaki Holdings (M) Sdn Bhd
Lembaga Tabung Haji
Citigroup Nominees (Asing) Sdn Bhd - Exempt An for Citibank New York (Norges Bank 14)
Cartaban Nominees (Tempatan) Sdn Bhd - RHB Trustees Berhad for Manulife Investment Shariah Progress fund
CIMB Group Nominees (Tempatan) Sdn Bhd -
CIMB Commerce Trustee Berhad - Kenanga Growth Fund Citigroup Nominees (Tempatan) Sdn Bhd -
Kumpulan Wang Persaraan (Diperbadankan) (Kenanga)
Amanahraya Trustees Berhad - Public Islamic Select Treasures Fund
CIMB Group Nominees (Tempatan) Sdn Bhd -
Hong Leong Asset Management Bhd for Hong Leong Assurance Berhad
(LP Fund ED102) Citigroup Nominees (Tempatan) Sdn Bhd
- Kumpulan Wang Persaraan (Diperbadankan)
(Affin Hwang SM CF) Citigroup Nominees (Tempatan) Sdn Bhd -
Employees Provident Fund Board (Asian Islamic)
Amanahraya Trustees Berhad - Public Islamic Treasures Growth Fund
- Pledged Securities Account for Dato' W Zulkifli Bin Haji W Muda
Citigroup Nominees (Tempatan) Sdn Bhd - Universal Trustee (Malaysia) Berhad for CIMB Islamic Small Cap Fund
Hong Leong Assurance Berhad - As Beneficial Owner (Unitlinked GF) Universal Trustee (Malaysia) Berhad -
KAF Dana Adib Amanahraya Trustee Berhad -
Public Islamic Opportunities Fund CIMB Islamic Nominees (Tempatan) Sdn Bhd -
CIMB Islamic Trustee Berhad - Kenanga Syariah Growth Fund
Maybank Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tang Sing Ling Cartaban Nominees (Tempatan) Sdn Bhd
- RHB Trustees Berhad for Manulife Investment -
HW Shariah Flexi Fund Amanahraya Trustees Berhad -
PB Islamic Smallcap Fund Citigroup Nominees (Tempatan) Sdn Bhd -
Pledged Securities Account for Tan Sri Dato' Sri Haji Wan Zaki Bin Haji Wan Muda 1
So many Top Guns are here
ZAKI HOLDING TOP BOSSES PUT THEIR OWN MONIES INSIDE AZRB
Public Islamic Select Treasures Fund. PB Islamic Smallcap Fun. Public Islamic Treasures Growth Fund
Hong Leong Assurance
CIMB Islamic Small Cap
KAF-Seacroat
Affin Hwang
EPF
Tabung Haji
Manulife Insurance
Amanahraya
Kenanga Growth Fund
Kenanga Syariah Growth Fund
If These Top Guns & Top Funds Put Their Monies in AZRB you think AZRB will remain a penny stock for long?
ALL THEIR HOLDING COSTS ARE MUCH HIGHER THAN NOW
SO WHAT ARE YOU WAITING FOR?
BEST REGARDS
Calvin Tan Research
These are the salient factors for AZRB
1) A DEFENSIVE HIGH MARGIN OF SAFETY STOCK
At 36.5 sen with NTA at 89 sen AZRB is selling at almost 60% discount to NTA. This is the margin of safety Ben Graham required at 30%
2) AZRB AT 36.5 SEN IS SELLING AT ALL TIME LOW COMPARED TO ITS HEY DAYS OF OVER RM2.60 BEFORE SPLIT
This is the time to buy low. Buy low is the most important criteria to sell high later (As opposed to chase high then sell low)
3) AZRB IS A TOP CLASS A BUMI CONTRACTOR. IT WINS CONTRACTS ON ITS OWN MERIT
IT HAS SECURED MANY CONSTRUCTION PROJECTS
4) AZRB PAYS GOOD DIVIDENDS
See
| 30-Nov-2018 | 12-Dec-2018 | BONUS_ISSUE | Bonus Issue | 1 : 8 |
 |
| 30-Aug-2018 | 26-Sep-2018 | DIVIDEND | Interim Dividend | RM 0.01 |
|
| 18-Sep-2017 | 02-Oct-2017 | DIVIDEND | Interim Dividend | RM 0.015 |
|
| 27-May-2016 | 18-Jul-2016 | DIVIDEND | Interim Dividend | RM 0.02 |
|
| 12-Jun-2015 | 15-Jul-2015 | DIVIDEND | Interim Dividend | RM 0.0200 |
|
| 17-Mar-2014 | 27-Mar-2014 | RIGHTS_ISSUE | Rights Issue | 6 : 8 |
|
| 25-Jun-2013 | 24-Jul-2013 | DIVIDEND | Interim Dividend |
RM 0.02 |
Let's calculate for year 2018
It paid a One sen dividend
It gave One Bonus share for 8 shares held which is 1/8 x 36.5 = equivalent to 4.56 sen
So total yield is 4.56 & One sen = 5.56 sen
That is a very nice 15.2% yield
(NOTE: AT 15.2% YIELD AZRB OFFERS ONE OF THE HIGHEST DIVIDEND YIELD IN KLSE)
This shows that Company is sanguine about its future as dividend cannot lie
5) THE MANAGEMENT OF AZRB IS FAIR AND TRANSPARENT
To benefit from the Bonus Issue & Dividend AZRB DIRECTORS USED THEIR OWN MONIES TO BUY SHARES FROM OPEN MARKET TO QUALIFY FOR THEM JUST LIKE ALL SHAREHOLDERS (THERE IS NO SPECIAL FAVOURS LIKE JAKS DIRECTORS WHICH REWARD THEMSELVES WITH LOTS OF "FREE SHARES"
See
| DATO' W ZULKIFLI BIN HAJI W MUDA | 12-Dec-2018 | Acquired | 20,000 | - |
|
| TAN SRI DATO' SRI HAJI WAN ZAKI BIN HAJI WAN MUDA | 07-Dec-2018 | Acquired | 198,000 | - |
|
| DATO' SR. ABDULL MANAF BIN HJ HASHIM | 15-Oct-2018 | Acquired | 105,000 | - |
|
| DATO' W ZULKIFLI BIN HAJI W MUDA | 30-Aug-2018 | Acquired | 50,000 | - |
|
| DATO' W ZULKIFLI BIN HAJI W MUDA | 29-Aug-2018 | Acquired | 15,000 | - |
|
| DATO' W ZULKIFLI BIN HAJI W MUDA | 29-Aug-2018 | Transferred | 70,000 | - |
|
| DATO' W ZULKIFLI BIN HAJI W MUDA | 29-Aug-2018 | Transferred | 35,000 | - |
|
| TAN SRI DATO' SRI HAJI WAN ZAKI BIN HAJI WAN MUDA | 05-Jul-2018 | Acquired | 200,000 | - |
|
| DATO' SRI WAN ZAKARIAH BIN HAJI WAN MUDA | 29-Jun-2018 | Acquired | 100,000 | - |
|
| DATO W ZULKIFLI BIN HAJI W MUDA | 28-Jun-2018 | Acquired | 500,000 | - |
|
| DATUK PROF A RAHMAN @ OMAR BIN ABDULLAH | 28-Jun-2018 | Acquired |
500,000 |
So at 36.5 Sen we are getting in far below Directors' cost
6) AZRB HAS LAND ASSETS STILL AT OLD BOOK VALUE AT WONDERFUL PRICES
See (refer to AR and scroll down to Properties owned by AZRB)
Let;s take a look at 2 pieces
1) At Property No. 6 GM 1754 Lot 167 Mukim Sabai Daerah Bentong Pahang Darul Makmur Date of purchase 8-Oct-10
Vacant land Freehold 4.578 ha Price: RM960,000
AZRB has a 4.578 hectare of FREEHOLD LAND IN BENTONG with a Book Value of Rm960,000
One hectare = 2.471 acre
So 4.578 hectare x 2.471 = 11.312 Acres
So 11.312 Acres of Freehold Lands valued at Rm960,000
How much per acre
Rm960,000 divides by 11.312 = Rm84,865 per acre
How much per sq ft? Divides 84,865 by 43560 = Rm1.94 Psf
Whoa! AZRB's Freehold land in Bentong has a Book Value of Rm1.94 psf?
This is less than the price of a mosaic tile going at Rm2.00 to Rm3.00 psf
See this
Lot 8316 PT18854 - PT19458 Mukim Bukit Payung Daerah Marang Terengganu Darul Iman
Land held for Development Leasehold expiring in year 2115 66.96 acres Rm7,500,000
This is a leasehold development land with lease until year 2115
66.96 acres priced at Rm7.5 millions
To convert to price per acre Rm7,500,000 divides by 66.96 = Rm112,007
To further convert to Per Sq Ft
Rm112,007 divides by 43,560 = Rm2.57
Wow. At Rm2.57 psf this is even cheaper than Naim's land in Sarawak at Rm4 psf
Those lands in Bentong are suitable to plant "Mau Sang Wang Duria" while Maran has a population of over 100,000 people. So just build affordable houses and they should sell well
7) TOP 30 SHAREHOLDERS OF AZRB ARE LOCAL FUNDS, FOREIGN FUNDS & BANKS & UNIT TRUSTS & INSURANCE COMPANY
LIST OF 30 LARGEST SHAREHOLDERS AS PER RECORD OF DEPOSITORS
Zaki Holdings (M) Sdn Bhd
AMSEC Nominees (Tempatan) Sdn Bhd - Pledged Securities Account - AmBank (M) Berhad for Zaki Holdings (M) Sdn.bhd.
Zaki Holdings (M) Sdn Bhd
Lembaga Tabung Haji
Citigroup Nominees (Asing) Sdn Bhd - Exempt An for Citibank New York (Norges Bank 14)
Cartaban Nominees (Tempatan) Sdn Bhd - RHB Trustees Berhad for Manulife Investment Shariah Progress fund
CIMB Group Nominees (Tempatan) Sdn Bhd -
CIMB Commerce Trustee Berhad - Kenanga Growth Fund Citigroup Nominees (Tempatan) Sdn Bhd -
Kumpulan Wang Persaraan (Diperbadankan) (Kenanga)
Amanahraya Trustees Berhad - Public Islamic Select Treasures Fund
CIMB Group Nominees (Tempatan) Sdn Bhd -
Hong Leong Asset Management Bhd for Hong Leong Assurance Berhad
(LP Fund ED102) Citigroup Nominees (Tempatan) Sdn Bhd
- Kumpulan Wang Persaraan (Diperbadankan)
(Affin Hwang SM CF) Citigroup Nominees (Tempatan) Sdn Bhd -
Employees Provident Fund Board (Asian Islamic)
Amanahraya Trustees Berhad - Public Islamic Treasures Growth Fund
- Pledged Securities Account for Dato' W Zulkifli Bin Haji W Muda
Citigroup Nominees (Tempatan) Sdn Bhd - Universal Trustee (Malaysia) Berhad for CIMB Islamic Small Cap Fund
Hong Leong Assurance Berhad - As Beneficial Owner (Unitlinked GF) Universal Trustee (Malaysia) Berhad -
KAF Dana Adib Amanahraya Trustee Berhad -
Public Islamic Opportunities Fund CIMB Islamic Nominees (Tempatan) Sdn Bhd -
CIMB Islamic Trustee Berhad - Kenanga Syariah Growth Fund
Maybank Nominees (Tempatan) Sdn Bhd - Pledged Securities Account for Tang Sing Ling Cartaban Nominees (Tempatan) Sdn Bhd
- RHB Trustees Berhad for Manulife Investment -
HW Shariah Flexi Fund Amanahraya Trustees Berhad -
PB Islamic Smallcap Fund Citigroup Nominees (Tempatan) Sdn Bhd -
Pledged Securities Account for Tan Sri Dato' Sri Haji Wan Zaki Bin Haji Wan Muda 1
So many Top Guns are here
ZAKI HOLDING TOP BOSSES PUT THEIR OWN MONIES INSIDE AZRB
Public Islamic Select Treasures Fund. PB Islamic Smallcap Fun. Public Islamic Treasures Growth Fund
Hong Leong Assurance
CIMB Islamic Small Cap
KAF-Seacroat
Affin Hwang
EPF
Tabung Haji
Manulife Insurance
Amanahraya
Kenanga Growth Fund
Kenanga Syariah Growth Fund
If These Top Guns & Top Funds Put Their Monies in AZRB you think AZRB will remain a penny stock for long?
ALL THEIR HOLDING COSTS ARE MUCH HIGHER THAN NOW
SO WHAT ARE YOU WAITING FOR?
BEST REGARDS
Calvin Tan Research
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/193318.jsp
